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140 Franklin St, New York, ...

Updated Oct 29, 2024

Institute For Studies On Latin American Art (ISLAA) Leases Retail Space At 140 Franklin Street In Tribeca
LEASEDRetail

Institute For Studies On Latin American Art (ISLAA) Leases Retail Space At 140 Franklin Street In Tribeca

140 Franklin St, New York, NY 10013, USA

Building Size

8,650 SF

Asset Type

Retail

Closing

Nov 21, 2022

About this deal

AI

The retail space at 140 Franklin Street in Tribeca has been leased. The property, spanning 8,650 square feet, was leased by the Institute for Studies on Latin American Art (ISLAA). The lease transaction was facilitated by the landlord's representatives, Christina Combias and Sam Akleh of Voro, and the tenant's representatives, Allie Portera and Brad Cohen of CBRE. The asking rent for the space was $58 per square foot.

Summary of transaction details

  • Property Type: Retail
  • Transaction Amount: N/A (lease transaction)
  • Address: 140 Franklin Street
  • Market: Tribeca
  • Landlord: Lily Realty - Tate Jackson
  • Tenant: Institute for Studies on Latin American Art (ISLAA)
  • Landlord's Rep: Christina Combias & Sam Akleh - Voro
  • Tenant's Rep: Allie Portera & Brad Cohen - CBRE
  • Asking Rent: $58/ft.
  • Square Footage: 8,650

The leasing of the retail space at 140 Franklin Street was successfully negotiated by Christina Combias and Sam Akleh of Voro, who represented the landlord, Lily Realty - Tate Jackson. On the tenant side, Allie Portera and Brad Cohen of CBRE acted as the representatives for the Institute for Studies on Latin American Art (ISLAA). This transaction provides ISLAA with a prime location in the Tribeca market to establish their presence.

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Players

Tate Jackson

Lily Realty

Landlord

2 deals

Landlord
IA
Institute for Studies on Latin American Art (ISLAA)Tenant
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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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